Banking passport into Ireland was acquired by Starling Bank which relies on a mobile phone app instead to cut running costs and appeal to new customers and is a new U.K. challenger bank that doesn’t have branches. Taking advantage of the EU ‘passporting’ rights that allow companies to set up in other nations more easily…
In a move that may allow Rome to solve its latest banking crisis on its own terms, preliminary approval for an Italian plan to wind down two ailing Veneto-based regional lenders with state money was given by the European Commission on Friday. Issuing an emergency decree that will effectively remove one its biggest banking headaches…
While insisting that their Persian Gulf neighbor shutter Al-Jazeera, cut back diplomatic ties to Iran and close down a Turkish military base in Qatar, Saudi Arabia and other Arab countries that have cut ties to Qatar issued a steep list of demands Thursday to end the crisis. The countries also demand that Qatar sever all…
A tepid reception from EU leaders was met, who stressed that many issues remain unresolved, to U.K. Prime Minister Theresa May’s proposal to safeguard residency rights of European Union citizens currently living in the U.K. Saying she wanted to offer them as much certainty as possible about their futures, almost all 3 million EU citizens…
UBS Asset Management said in a report that overtaking Japan’s to become the world’s second largest behind the United States’, China’s bond market will double in size from the current $9 trillion over the next five years. Local provinces and cities were prohibited from borrowing from banks in a law passed in 2015 and that is the underpinning…
As companies big and small continue to invest in it and develop their expertise, artificial intelligence has a bright future ahead even though it may still be in its nascent stage, says a senior executive at Chinese tech giant Tencent. He was very bullish about A.I. and a big proponent of offering A.I. as a service,…
A $100 million funding from Japanese telecommunications firm SoftBank Corp — a subsidiary of SoftBank Group was secured by Cybereason, a Boston-based cybersecurity firm specializing in end-point detection and response to digital security breaches, the company announced on Wednesday. The backers of the start-up also include Charles River Ventures, Lockheed Martin and Spark Capital and the start-up has raised…
A corporate culture that has long favored quiet chats over splashy headlines is being shaken up as activist funds are targeting other Australian firms and as BHP Billiton fends off the attention of Elliott Management. In an effort to improve returns, and in order to pressure corporate boards criticized as clubby and conservative, activist investors…
According to Luc Frieden, who has held several portfolios within the Luxembourg cabinet over the past few decades, U.K. financial services firms will definitely not be able to carry on business as normal within the European Union (EU) after it leaves the bloc. “We need a strong partnership with the United Kingdom, it’s our neighbor…
The creation of a separate business for its equity, debt and leveraged capital markets operations, are among the plans that Deutsche Bank AG is making to create a completely new structure for its corporate and investment banking division, the bank announced recently. Appointed as co-heads of the bank’s newly-combined investment banking and trading units earlier…
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